Assa Abloy (OTCMKTS:ASAZY) Posts Earnings Results, Hits Expectations

Assa Abloy (OTCMKTS:ASAZY) posted its earnings results on Friday. The industrial products company reported $0.21 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.21, Zacks reports. Assa Abloy had a net margin of 10.51% and a return on equity of 15.93%.

Assa Abloy Trading Up 0.1%

Shares of Assa Abloy stock opened at $17.15 on Friday. The firm has a market cap of $38.16 billion, a PE ratio of 22.57, a P/E/G ratio of 2.23 and a beta of 1.17. Assa Abloy has a 1 year low of $16.22 and a 1 year high of $21.98. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.03 and a quick ratio of 0.63. The stock has a fifty day moving average price of $17.67 and a 200-day moving average price of $19.01.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Evercore raised Assa Abloy to a “hold” rating in a research note on Monday, April 13th. Royal Bank Of Canada began coverage on Assa Abloy in a research report on Tuesday, June 16th. They issued an “outperform” rating for the company. Dnb Carnegie raised shares of Assa Abloy from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 2nd. Barclays reiterated an “overweight” rating on shares of Assa Abloy in a research note on Monday, June 15th. Finally, Pareto Securities upgraded shares of Assa Abloy from a “hold” rating to a “buy” rating in a report on Wednesday, April 8th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

Assa Abloy Company Profile

Assa Abloy is a global provider of door opening solutions, formed in 1994 through the merger of Swedish lock manufacturer ASSA and Finnish lock specialist Abloy. Building on a legacy that dates back to 1907, the company has grown into a diversified security technology group offering a broad portfolio of mechanical and electromechanical locks, access control systems, identification technology and entrance automation. Assa Abloy serves a wide range of end markets, including commercial buildings, residential dwellings, institutions, transportation hubs and hospitality venues.

The company’s product offerings encompass traditional mechanical locks and keys as well as advanced digital solutions such as mobile access credentials, smart door locks and cloud-based access management platforms.